The International Monetary Fund (IMF) has approved release of over $ 250 million tranche to Pakistan under Poverty Reduction and Growth Facility (PRGF) programme.
This was decided at a meeting of IMF's Executive Board in Washington. The Fund appreciated Pakistan's economic performance and approved release of further fund.
In its review the IMF indicated that macroeconomic performance of Pakistan remained 'strong' during the first nine months of 2003-04.
It noted that the GDP growth accelerated further and inflation remained within the target.
Meanwhile, an IMF staff mission visited the Commerce Ministry in Islamabad on Saturday for a briefing on Trade Policy, impact of the end of quota regime in textiles and Pakistan's trade policy with India, the European Union and the United States.
The three-member mission comprised Harald C. Finger, Manmohan Singh, and Henri R. Lorie.
Commerce Ministry Additional Secretary Syed Asif Shah, Senior Joint Secretary Tahir Yasin, and other joint secretaries briefed the IMF mission on the above-mentioned areas.